Clinically available biomarkers for hepatocellular carcinoma (HCC) early diagnosis and prognostication have limited utility. Further lack of routine biopsy in hepatocellular carcinoma limits the availability of molecular information to guide drug development. Recent studies investigating liquid biopsy using circulating tumor cells (CTCs) and cell-free deoxyribonucleic acid (cfDNA) have yielded promising data that could address both of these limitations. For early HCC diagnosis, CTCs have modest sensitivity but high specificity. CfDNA methylation scores have shown high sensitivity and specificity in two large phase II studies. Presence of CTCs has been associated with poorer prognosis in numerous studies, particularly increased cancer recurrence following curative therapy, while the literature on cfDNA and prognosis is less robust. Liquid biopsy using CTCs and cfDNA has shown promise in prognostication and early diagnosis in HCC. Further robust validation of this liquid biopsy is required for routine clinical use.